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Why Do Businesses Use Outsourced CFO Services?

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April 5, 2021
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Outsourced CFO Services

Outsourced CFO Services

Today businesses must invest in their financial profile and often choose to use outsourced CFO services to ensure accurate and compliant financial reporting.

Our Outsourced CFO services allow firms access to financial experts whenever required, without committing to an in-house source. It is not only convenient for business owners but also more affordable.”

— Guy Nicio

LONG BEACH, CA, UNITED STATES, April 5, 2021 /EINPresswire.com/ — Small and mid-sized businesses that wish to stay relevant in today’s competitive market understand the importance of investing in their financial profile and therefore, often opt for outsourced CFO services to ensure accurate and compliant financial reporting. We will discuss what is included with outsourced CFO services and why businesses require these solutions.

What are Outsourced CFO Services?

Outsourced accounting services focus on finance and accounting functions to ensure business growth and success. The goal is to assist businesses in addressing challenges that arise due to a lack of advanced financial expertise within the in-house accounting team.

An outsourced CFO, also known as fractional CFO, can be defined as a part-time CFO for small- to medium-sized businesses.

They partner with businesses to provide expert services to help avoid financial challenges, optimize strategy, generate revenue, raise capital, achieve sustainable growth, implement rigorous financial systems, and more.

A fractional CFO’s duties may include executive management, company oversight, and business turn-around. An outsourced CFO can offer the following valuable services to businesses:

Overall financial analysis to determine the strengths and weaknesses of the company.
Analyzing cost and pricing structure to improve profit margins.
Budgeting, forecasting, financial needs assessment, and other financial planning and analysis functions.
Assessing the economic feasibility and sustainability of new products/services for the business.
Providing expert advice on debt/equity mix to raise business capital.
In-depth analysis of M&A opportunities.
Preparing financial presentations for board members, investors, and other shareholders.
Assistance with quarterly financial reporting.
Assistance in determining when and how to procure loans or investments.

Why Businesses Outsource CFO Services

Outsourced CFO services can help business owners make the right business decisions by providing them with highly organized, critical, and accurate financial information. Good decisions ultimately reflect on all aspects of business, including services/products, inventory cash flows, costs, margins, profitability, market share, and much more. Following are some other situations that call for outsourced CFO services:

Initial Business Success – Entrepreneurs often require outsourced CFO services once the business takes off. Outsourcing activities like budgeting, analyzing financial data, and forecasting allow them to focus on business operations.

Better Business Decisions – Small and mid-size companies understand what their customers want and how to deliver products and services that meet those requirements. However, the inability to dissect the business’s financial aspects can lead to instinct-based decisions rather than decisions backed by financial facts and data.

Need for Financial Experts – Often, businesses run smoothly with a one-person finance department for a long time until the employee hands in their notice, creating an immediate need to rehire. In such a case, it is better to opt for outsourced CFO services to streamline business operations without a hassle.

Raised Venture Capital – An increase in venture capital for business growth means investors need updates regarding the expected profit margins and other key elements, such as customer acquisition costs. Outsourced CFO services can put this information together to help inform and satisfy investors.

Inability to Comprehend Financial Reports – Understanding and interpreting company financial data and reports require financial expertise. You may have the best bookkeepers and controllers at work, but if you cannot understand the financial statements they prepare, it may be a good idea to look into outsourced CFO services.

Unsatisfactory Business Performance – If your business is not performing as it should, you may need a new expert perspective to understand the shortcomings and to develop the right game plan to overcome these challenges.

Where to Find Outsourced CFO Services

A recognized leader in accounting, assurance, tax, and business advisory, Windes provides outsourced CFO services tailored to meet any business’s unique needs.

We are committed to customized plans that match your needs and requirements!
While business owners focus on day-to-day operations, we provide the financial expertise required to accelerate any business towards success. Here are some unique benefits of choosing Windes for your outsourced accounting needs.

Flexibility: Financial services requirements of an organization vary with time. Windes can accommodate the changing needs and deliver flexible services designed for your business. Furthermore, our fractional CFOs work alongside existing employees. The goal is to provide a more customizable approach that assists the company in attaining its goals.

Bench: Windes can support all financial functions. It is the one-stop service provider for all needs, including outsourced CFO, outsourced controller, bookkeeping services, payroll, sales tax, and more.

Approach: At Windes, we follow an approach that focuses on team building and utilizing the strengths of the team to deliver flexibility and scalability.

Technology: An advocate of advancements in fintech, Windes leverages numerous technological tools to produce agile, accurate, and practical solutions. Furthermore, we can help with technological transformations and provide training if required.

Growth: Business growth and success is the ultimate goal of any organization. Therefore, we position you for growth either organically or by making required changes in the existing approach. We work closely with businesses to create a roadmap depending on the current resources and in-house capacity to cover the gap between the business stands and where it wants to get in the future.

We welcome you to scale for the future with Windes

Our onsite staff currently serves clients in Los Angeles, Long Beach, and the Orange County areas. Remote support is available for national and international clients. Please contact us for more information on our outsourced CFO services.

Guy Nicio
Windes
+1 562-453-0695
email us here
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